MIRA
INFORM REPORT
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Report Date : |
18.10.2007 |
IDENTIFICATION DETAILS
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Name : |
DULHAN READY MADE
GARMENT |
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Registered Office : |
Shop No. 186,
Block 321, Zone Gudaibiya, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1st November 2003 |
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Com. Reg. No.: |
14631/6 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale
and retail of ready made garments and textiles. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : DULHAN READY MADE GARMENT
Also Known As : DULHAN READY MADE DRESSES
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1st November 2003
Commercial Registration Number : 14631/6
Invested Capital : BD 50,000
Total Workforce : 7
Line of Business : Wholesalers and retailers of ready made garments and textiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
DULHAN READY MADE
GARMENT
ALSO KNOWN AS
DULHAN READY MADE
DRESSES
ADDRESS
Registered & Physical Address
Location : Shop No. 186, Block 321
Area : Zone Gudaibiya
PO Box : 11258
Town :
Country : Bahrain
Telephone : (973-17) 310230
Facsimile : (973-17) 310120
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Manama.
KEY PRINCIPALS
Name Nationality Position
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Thurdi
K Abdul Qader Indian Proprietor & General Manager
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Abdul
Karim Saad Faad Bahraini Local Sponsor
LEGAL FORM & OWNERS
Date of Establishment : 1st
November 2003
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 14631/6
Invested Capital
: BD 50,000
Mr Thurdi K Abdul
Qader is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
AFFILIATED
COMPANIES
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Dulhan
Khraba Street
PO Box : 305999 & 37800
Doha
Qatar
Tel : (974) 4353919 / 5525789
Fax : (974) 4352766
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of
ready made garments and textiles.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 7 employees.
FINANCIAL
HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency : Bahraini
Dinar (BD)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue BD 760,000 BD
810,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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HSBC
Bank
93 Al Khalifa Avenue
PO Box : 57
Manama 304
Tel : (973-17) 224555 / 222158
Fax : (973-17) 226822
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000:
Established in
2003, subject is owned and managed by Mr Thurdi K Abdul Qader, an Indian
national who operates in Bahrain under the local sponsorship of Mr Abdul Karim
Saad Faad.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
business is considered to be a fair trade risk and the above credit figure is
deemed to be within subject’s financial means.
Maximum suggested
credit figure: US$ 150,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)